October 30, 2019
No Retirement for Burt!
...One gets a few grey hairs and makes a few changes to his office, and the questions begin. Burt is healthy, vigorous, and busier than ever:...
59 Search Results for retirement
January 31, 2019
Financial Disclosure in Divorce: Get it Right!
...Hunter to attach to our disclosure. I understand that I must disclose ALL retirement benefits and long-term and short-term savings. And, I understand that if a retirement plan is to be divided, there may be extra costs for something called a Q.D.R.O. (Qualified Domestic Relations Order), per the federal E.R.I.S.A. law. I understand the difference between a “defined benefit” and “defined contribution” retirement plan. A “defined contribution plan”...
March 7, 2018
2018 Update: Equitable Distribution: WV Divorce Property Law
...the cancelling of the wedding. e. Where a party works 15 years, building a retirement, before marriage, marries, and divorces 25 years after that, the general rule is the spouse shares 50% of the retirement accumulated during those 25 years. f. The “simple calculation” is to divide 25 years by 40 years and to split the result evenly : 25/40 = 62.5%; 62.5%/2 = 31.25%. Thus, the spouse is entitled to just under 1/3 of the 40 year fund. The 25/40 is...
May 23, 2018
YOU HAVE YOUR COURT APPROVED PROPERTY SETTLEMENT AGREEMENT: NOW WHAT?
...a lawyer. b. Some pension plans, including the military who won’t divide a retirement if it is less than ten years, require you to make a “survivorship election” that you may have already done. If so, that’s binding. c. Such an election decreases the overall monthly benefit by approximately 10% as it lasts for the longer of two lives. Be sure this is clear in your PSA and then make sure the “Plan Administrator” approves what you have agreed to. d....
August 31, 2012
Equitable Distribution – WV Divorce Property Law
...he cancelling of the wedding.) e. Where a party works 15 years, building a retirement, before marriage, marries, and divorces 25 years after that, the general rule is the spouse shares 50% of the retirement accumulated during those 25 years. f. The “simple calculation” is to divide 25 years by 40 years and to half the result : 25/40 = .625; .625/2 =.3125, or just under 1/3 of the 40 year fund goes to the spouse. The 25/40 is called the “marital co...
July 11, 2012
Dominos or Popcorn – Does It Matter?
...on, please! Being stuck here, working, for another ten-fifteen years past “retirement age”, it is easy for me to say, but I think the average American has to re-examine his/her lifestyle. Find time for an hour of physical activity, weights, walking, dance, sport, cut back on portions and carbs, and decide that 70 is now the “standard” retirement age. Finally, time to suck it up, and make universal health care work, but put in preventive and holi...
February 22, 2019
Valuation of Marital Assets
...www.thesprucecrafts.com/ : collectables, hobbies, crafts. ** Remember that retirement assets exist in two main categories: a. “Defined contribution plans”. These are “tax deferred” funds or accounts. They really exist. They can be cashed in (with penalty and tax payment), and they can be borrowed against, but they are relatively easy to value. b. “Defined benefit plans”. These funds do not “exist” in the sense that they represent a promise for the...
October 26, 2014
America’s Love Hate Relationship With The Poor.
...cent money, and the “burden” of having to keep working because my “private retirement” underwent a severe setback a few years ago. Thus, I get to pay 42% of all net earnings to the WV State Tax Dept. and the I.R.S. I don’t like paying that much. Something between 20% and 33 1/3% seems about right, like I charge my contingency fee clients. I could be bitter about paying nearly half of my income to the government, knowing that much of it is used for...
January 30, 2012
Your Legal Checkup and Review; “An Ounce of Prevention”
...ign a release. 11. Finally, if you own your home, perhaps a business, have retirement funds, or investments, you will need an umbrella! That is exactly what it sounds like, coverage over and beyond your other coverages, homeowners, auto, under and uninsurable, and liability. Usually it adds at least $1,000,000.00 in coverage, and it is cheap. See my article: https://hunterlawfirm.net/buy-a-1000000-umbrella/12. . 12. Are you beginning to sense that...
October 24, 2013
If I Could Know Only Ten Things About My Family Law Case, What Would They Be?
...and it usually doesn’t matter in whose name the property is titled; c. “My retirement” is not just “my” retirement. It is yours equally, and; d. There are very limited conditions where a Grandparent can seek custodial rights for a grandchild. 5. The lawyer who demands the “big retainer” of $6000-$12,000 may not be right for you! I will tailor the retainer to the percentage of likelihood that the case will, or will not, go to trial. Thus, we can of...